History
Application for Cook County Tax Relief - Approval
Attorney Dan Pikarski is applying for a Class 7b designation on behalf of Patel Realty for the property at 66 Orland Square Drive that formerly housed Homemakers Furniture. It has been vacant since 2-28-05 according to the petitioner. They will provide an affidavit verifying this before the May 7, 2007 Board meeting. The owners have had difficulty finding tenants and are now looking for Village support of their Class 7b application to Cook County Assessors Office.
The Class 7b (Program description attached) was established to encourage commercial development in areas determined to be in need of commercial development. It is a twelve-year incentive that applies to the reutilization of vacant structures abandoned for at least 24 months. Normally, commercial property is assessed at 38% of fair market value and the Class 7b reduces this to 16% for the first 10 years, 23% for the 11th year and 30% for the 12th year.
It must meet five eligibility requirements. The first eligibility requirement is that “The area is or has been within the last 10 years designated by federal, state or local agency as a conservation, blighted or renewal area.” Although it has not been so designated within the last 10 years, the petitioner’s attorney stated that this can be done by the County going forward. It is for this parcel only and the petitioner will have to present his arguments in favor of such designation to the County.
The petitioner is requesting a resolution of support from the Village Board as required by Cook County. (Please note that the legal description was not available at the time of this writing but will be provided before the May 7, 2007 Board meeting.)
Recommended Action/Motion
I move to pass Resolution Number 0708 entitled: A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 7B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE FOR CERTAIN REAL ESTATE OWNED BY ORLAND HOLDINGS, LLC LOCATED AT 66 ORLAND SQUARE DRIVE , ORLAND PARK, ILLINOIS
Title/Name/Summary
A RESOLUTION DETERMINING THE APPROPRIATENESS FOR CLASS 7B STATUS PURSUANT TO THE COOK COUNTY REAL PROPERTY CLASSIFICATION ORDINANCE FOR CERTAIN REAL ESTATE OWNED BY ORLAND HOLDINGS, LLC LOCATED AT 66 ORLAND SQUARE DRIVE , ORLAND PARK, ILLINOIS
Body
WHEREAS, the Village of Orland Park desires to promote a healthy commercial base and full occupancy of commercial buildings; and
WHEREAS, the commercial property at 66 Orland Square Drive has been vacant for over two years as indicated in a sworn and signed Affidavit (Exhibit A) stating that Homemakers ceased doing business out of the above address on February 28, 2005 and the building has been vacant since; and
WHEREAS, the Cook County Assessor and the Cook County Department of Planning and Development are operating under an ordinance enacted by the Cook County Board of Commissioners, and said ordinance has instituted a program to encourage commercial development in Cook County known as the Cook County Real Property Classification Ordinance; and
WHEREAS, the Cook County Class 7b incentive is designed to encourage the reutilization of vacant structures abandoned for at least 24 months and the incentive is available to real estate used primarily for commercial purposes; and
WHEREAS, certain properties are applying for Class 7b property status pursuant to aforementioned ordinance, and this Board finds commercial use of this vacant property is necessary and beneficial to the local economy, and therefore supports and consents to the designation of Class 7b status for said property.
NOW, THEREFORE, Be It Resolved by the Mayor and Board of Trustees of the Village of Orland Park, Cook County, Illinois, as follows:
1. That the request of Orland Holdings, LLC to have certain real estate located at 66 Orland Square Drive, Orland Park, Cook County, Illinois, PIN No. 27-10-400-018-0000, legally described on _______, declared eligible for Class 7b status pursuant to the Cook County Real Property Classification Ordinance, is hereby granted in that this Board and municipality recognize that the property, as stated herein, is now, and has had abandonment of more than 24 months and that the property is to be used primarily for commercial purposes.
2. That the commercial use of the property is necessary and beneficial to the local economy of the Village of Orland Park, Cook County, Illinois and the Village Board hereby supports and consents to the designation of Class 7b status for said property.
3. That the Mayor and Clerk and other appropriate Village of Orland Park officials are hereby authorized to sign any necessary documents to implement this resolution.
4. That this resolution shall be in full force and effect from and after its adoption.